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Insurers share cyber risk war stories from the front lines

Theres no shortage of money or tech tools being devoted to support cyber risk management at most financial services institutions, yet many are still struggling to stay ahead of hackers, a new study by Deloitte has revealed.

By Sam J. Friedman | Updated on July 15, 2016
Basic blocking and tackling strategies to lock down devices, systems, and platforms remain a work in progress because of the increasing pace of cyber attacks and the growing sophistication of threat actors. (Photo: iStock)

There’s no shortage of money or technological tools being devoted to support cyber risk management at most financial services institutions, yet insurers are still struggling to stay ahead of the proliferating ranks of hackers looking to steal money or information, disrupt operations, or destroy critical infrastructure.

Indeed, basic blocking and tackling strategies to lock down devices, systems, and platforms remain a work in progress because of the increasing pace of attacks, the growing sophistication of threat actors, as well as multiplying, often conflicting demands facing chief information security officers (CISOs).

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